February Active Member e-Newsletter

MAKE YOUR CONTRIBUTIONS COUNT

Thank you for being a valued member of SPP. By choosing to prioritize your future, you’ve taken an important step toward long-term financial security, and we’re here to celebrate that with you!

Your commitment is part of something bigger. With more than $800 million in assets and more than 32,000 members, SPP is the 21st largest defined contribution plan in Canada.

Together, we’re building a future that’s strong, stable, and secure.

SPP's fund performance for 2024

(as of December 31, 2024)

10.6%

Balanced Fund

3.8%

Diversified Income Fund

Contribute Online Now

Simple Steps to Financial Freedom

Set goals

Whether you’re saving for retirement,

paying off debt, or planning a major

purchase, having goals helps you stay

focused and increases your chances

of success. To do this, set short-term

(1-3 years) and long-term (5 or more

years) goals for yourself. Make those

goals specific and realistic, and break

them down into milestones. Review

and adjust your goals as necessary.

For example, a short term goal might be

“I will contribute $6,000 to my pension

in the next 12 months by putting aside

$500 each month.”

Create a budget

Your budget shows you how much

money is coming in, where it’s going,

and how much you can save. It also gives

you the ability to make informed financial

decisions, reduce your debt, and increase

your savings. As part of your budget

you should:

Track your income and expenses
Set monthly spending limits
Revisit your budget regularly to
ensure it still aligns with your goals
Don’t forget to build an emergency
fund, as that will help you cover
unexpected events.

WHAT YOU NEED TO KNOW

We’re happy to be part of your financial journey, and we want it to be as easy as possible for you to build the retirement of your dreams. Here’s some important information for you to know about your pension plan.

How much can I contribute?*

SPP offers great flexibility for building your retirement savings. Your contributions are tied to your RRSP limit, so you can contribute up to the maximum your RRSP room allows each year. Keep an eye on your limit to maximize contributions without going over. You can find your contribution limit on your most recent Notice of Assessment (NOA) issued by CRA.

Can I transfer-in funds from other investments?

In addition to regular contributions, SPP allows you to transfer funds from unlocked RRSPs (Registered Retirement Savings Plans), RRIFs (Registered Retirement Income Funds), RPPs (Registered Pension Plans), and DPSPs (Deferred Profit Sharing Plans). This makes it easier to keep your retirement savings in one place, helping you more effectively manage your finances.

Is SPP tax deductible?

Your SPP contributions are fully tax deductible, provided you have room in your RRSP contribution limits.

*Must have available RRSP room. Funds are locked in until age 55.

When do I receive my tax receipts?

Tax receipts can be found on MySPP. They are also sent via mail or email notification in two batches:

Batch 1, sent early January
Covers contributions made between

March 1, 2024 and December 31, 2024

Batch 2, sent mid March
Covers contributions made between

January 1, 2025 and March 3, 2025

From left to right: Harlie Messer, Calla McLean, Grace Tan, Shonna McKenzie, Ashara Dana, Cheryl Andreas, Madison Kosolofski, Kayln Tait, Anne Yamson.

SPP NEWS

From the Board Table

SPP’s Board of Trustees provides diligent oversight in all aspects of the Plan’s financial management. Key priorities include ensuring plan expenses are low so costs to members are managed effectively, providing robust investment management oversight, and focusing on growth–the larger the pooled assets, the lower the costs to members.

In addition, the Board’s priorities include ensuring information technology systems are modern, effective and relevant; SPP is well on the way to redesigning the systems to more effectively serve members. As part of our growth strategy, we’re excited to share how our team is evolving to better serve you.

Evolving Our SPP Team

In 2024, several of our staff achieved key milestones:

Cheryl Andreas has been with SPP for 20 years, and as the Senior Director, Finance and Member Service, she brings her seasoned expertise to serve all aspects of our operations. Congratulations Cheryl!
Shonna McKenzie celebrated a milestone and has been with SPP for 5 years. As the Manager of Finance, Shonna plays a critical role in ensuring diligent and strong financial compliance. Thank you Shonna!
Calla McLean has been with SPP for 10 years. As a Senior Member Service Officer, Calla plays a key role in supervising the member service team and providing effective front-line services to our members. Thank you Calla!

We are thrilled to welcome Harlie Messer, Grace Tan, Madison Kosolofski and Anne Yamson to our team. We would also like to introduce our Manager of Business Development. Welcome to Ashara Dana who joined our team in May of 2024–thank you for providing sound leadership to our business development team to ensure our continued growth.

Ashara Dana holds a master’s degree in Business Administration and Applied Physics. She brings with her over 13 years of experience in various business development and finance roles. She is committed to excellence, ensuring that suitable and quality services are provided to SPP members and prospective members.

We are also pleased to welcome Kayln Tait who joined the SPP team as Senior Financial Investment Officer. Her expertise and skills have added significant value to our finance team.

Kayln Tait holds a Bachelor of Commerce degree in Accounting. She began her journey in accounting as a bookkeeper 7 years ago. Kayln strives to take initiative and looks forward to working with the SPP team to help enhance and further digitize accounting processes.